Man Group plc Has $2.02 Million Stake in MDA Space Ltd. $MDA

Man Group plc reduced its stake in shares of MDA Space Ltd. (NYSE:MDA) by 79.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,999 shares of the company’s stock after selling 189,025 shares during the period. Man Group plc’s holdings in MDA Space were worth $2,024,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of MDA Space in the 2nd quarter valued at about $4,931,000. Cibc World Market Inc. raised its position in shares of MDA Space by 15.0% during the second quarter. Cibc World Market Inc. now owns 201,121 shares of the company’s stock worth $8,303,000 after acquiring an additional 26,193 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of MDA Space by 85.9% in the second quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock worth $2,250,000 after acquiring an additional 25,197 shares during the period. SCS Capital Management LLC acquired a new position in shares of MDA Space in the second quarter worth approximately $1,003,000. Finally, Quantbot Technologies LP acquired a new position in shares of MDA Space in the second quarter worth approximately $593,000.

MDA Space Trading Down 1.7%

MDA Space stock opened at $28.41 on Wednesday. MDA Space Ltd. has a 1-year low of $23.23 and a 1-year high of $49.37. The company has a market capitalization of $4.61 billion and a price-to-earnings ratio of 52.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a fifty day simple moving average of $33.49.

MDA Space (NYSE:MDA) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $360.18 million during the quarter, compared to analyst estimates of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. On average, research analysts forecast that MDA Space Ltd. will post 0.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MDA shares. ATB Cormark Capital Markets downgraded shares of MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Jefferies Financial Group restated a “buy” rating and issued a $49.00 target price on shares of MDA Space in a report on Tuesday, August 11th. Weiss Ratings downgraded MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. lifted their price objective on MDA Space from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, MDA Space presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.